Inventory

Inventory Summary

This report is a summary of the movement of items in and out of your organization and their quantities. It contains the stock which is on hand, committed and available for sale.

To view this report:

Go to Reports > Inventory Summary under the Inventory section.

This report contains the following fields:

Item Name
Item for which you want to view the inventory.

SKU
Stock Keeping Unit of the item.

Reorder Level
Quantity at which the item needs to be re-ordered.

Quantity Ordered
The quantity of items which you have ordered from your vendor(s). This value is calculated based on the total quantity of an item in the following transactions with different statuses.

Purchase order:

Open

Closed (A purchase order which is converted to a bill in the Draft status)

Quantity In
The quantity of items which is moving into your organization through different purchases or sales transactions. This value is calculated based on the total quantity of an item in the following transactions with different statuses.

Bills:

Open

Overdue

Paid

Credit Notes:

Open

Closed

Quantity Out
The quantity of items which is moving out of your organization due to the various purchase transactions that you record in Zoho Books. This value is calculated based on the total quantity of an item in the following transactions with different statuses.

Invoices:

Sent

Overdue

Paid

Stock On Hand
This is the stock which is currently available for sale.

Stock on hand = Items in Open Invoices - Items in Open Bills

Committed Stock
The stock that you’ve committed to sell to your customers through sales orders in Zoho Books. This value is calculated based on the total quantity of an item in the following transactions with different statuses.

Sales order:

Open

Closed (A sales order which is converted to an invoice in the Draft status)

Available For Sale
The total quantity of an item available for sale to your customer. This value is calculated based on the stock moving in and out of your organization.

Stock available for sale = Quantity in - Quantity out - Committed stock

To customize this report:

Go to Reports > Inventory Summary under the Inventory section.

Click Customize Report in the top of the page.

Select the criteria based on what you want to generate the report.

Click Run Report.

Fields

Description

Status

Filter the report based on items which are Active, Inactive or both (All).

Stock Availability

Filter the report for items which are Greater than zero or Less than or equal to zero.

Item Name

Select the item(s) whose inventory you specifically want to view.

Inventory Valutation Summary

This report is a summary of the value of the stock of all the items that you have in your organization.

You can click any amount under the Inventory Asset Value to view its detailed drill-down summary. This will show you the opening and closing stock of an item and how it changes based on the sales and purchase transactions created for it.

FIFO Cost Lot Tracking

In the First In First Out (FIFO) concept, the stock that comes in first to the organization through any means like the opening stock, and other sales and purchase transactions gets sold out in the same order. In simple words, the stock which comes in first, goes out first.

Let’s understand this better with the help of a scenario. John has an opening stock of 100 laptops, which he enters in Zoho Books. He purchases another 50 of them from Bailey, and records a bill for it. Now, John decides to sell 2 laptops to his customer.

In this case, John will have two lots of laptops – the opening stock (100 laptops) and the stock from the bill (50 laptops). When he sells the laptops, the stock gets deducted from the opening stock first since this is his first lot . After the opening stock of 100 laptops get sold out, the stock gets deducted from the next transaction recorded in Zoho Books (in this case, the bill from Bailey).

Note:
It doesn’t matter from where John manually selects the two laptops, i.e., the opening stock or the stock received from Bailey. It will always be deducted from the first lot (in this case, the opening balance).

To view this report:

Go to Reports > FIFO Cost Lot Tracking under the Inventory section.

This report has two sections:

Product In
This section contains the movement of goods or services into the organization.

Fields

Description

Date

Date on which the items were received.

Transactions

Transactions which facilitate the movement of goods into the organization.

Received From

Vendor from whom you’ve received the items.

Item Name

Name of the item you’ve received.

Quantity

Quantity of the item received.

Total

Total cost of all the items.

Product Out
This section contains the movement of goods or services out of the organization.

Fields

Description

Date

Date on which items were moved out of the organization.

Transactions

Transactions which facilitate the movement of goods outside the organization.

Dispersed To

Customer to whom you’re providing the item.

Qty Dispersed

Quantity of the item sold.

You can view a detailed drill-down report by clicking any of the transactions in the report.

To customize this report:

Go to Reports > FIFO Cost Lot Tracking under the Inventory section.

Click Customize Report in the top of the page.

You can customize this report based on:

Fields

Description

Date Range

Filter the report for a week, month, quarter, year or a custom period.